Apple Federal Credit Union Mortgage Rates, Fees & Info
Fairfax, VALEI: 254900NZCGMT6517BA94
Tax ID: 54-0629628
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Mortgage Data
Review & Overview
Apple Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Apple Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Winchester, Richmond, Hagerstown, and Baltimore among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)Apple Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.45% | 4/21/24 |
| 30 Year Conventional Refi | 6.13% | 4/21/24 |
| 30 Year Cash-out Refi | 6.36% | 4/21/24 |
| 15 Year Conventional Purchase | 6.02% | 4/21/24 |
| 15 Year Conventional Refi | 5.67% | 4/21/24 |
| 15 Year Cash-out Refi | 5.67% | 4/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Apple Federal Credit Union Mortgage Calculator
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This is not an official calculator from Apple Federal Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,048Origination Dollar Volume (All Markets)
$197,750,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 891 | $177,255,000 | $198,939 | $0 | 4.86% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 67 | $8,145,000 | $121,567 | $0 | 5.01% |
| RICHMOND, VA (FHA|USDA|VA) | 14 | $2,840,000 | $202,857 | $0 | 4.77% |
| Outside of Metro Areas | 23 | $2,525,000 | $109,783 | $0 | 4.55% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 14 | $1,320,000 | $94,286 | $0 | 5.17% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $1,075,000 | $215,000 | $0 | 4.35% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 5 | $895,000 | $179,000 | $0 | 4.99% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $0 | 4.38% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $0 | 4.75% |
| ROANOKE, VA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 4.19% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 4.56% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $260,000 | $65,000 | $0 | 4.87% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 4.87% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 4.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.75% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.25% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.24% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 5.74% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 5.99% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.13% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.88% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.74% |
Similar Lenders
We use machine learning to identify the top lenders compared against Apple Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 771 | $172,905,000 | $224,261 | $0 | 4.72% |
| HELOC | 277 | $24,845,000 | $89,693 | n/a | 5.25% |
For 2018, Apple Federal Credit Union's most frequently originated type of loan was Conventional, with 771 originations. Their 2nd most popular type was HELOC, with 277 originations.
Loan Reason
For 2018, Apple Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 300 originations. The 2nd most popular reason was Home Improvement, with 223 originations.
Loan Duration/Length
For 2018, Apple Federal Credit Union's most frequently cited loan duration was 30 Year, with 661 originations. The 2nd most popular length was 15 Year, with 203 originations.
Origination Fees/Closing Costs
Apple Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 386 originations.
Interest Rates
During 2018, Apple Federal Credit Union's average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 4-5%, with 504 originations.
Loan Sizing
2018 saw Apple Federal Credit Union place emphasis on $100,000 or less loans with 438 originations, totaling $21,840,000 in origination value.
Applicant Income
Apple Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 313 originations. The second most popular income band? $150k-250k, with 240 originations.
Applicant Debt to Income Ratio
Apple Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 235 originations. The next most common DTI ratio? 30-36%, with 189 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.05%
Apple Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination69.18%
Apple Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,048 | $197,750,000 | $188,693 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,048 | $197,750,000 | $188,693 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| APPLE FINANCIAL HOLDINGS, INC. | Conventional home mortgage | Trouble during payment process | 2 | 66.7% |
| APPLE FINANCIAL HOLDINGS, INC. | Other type of mortgage | Trouble during payment process | 1 | 33.3% |